Diversification pays off with 39% rise in interim pre-tax profit at m&e contractor

T Clarke鈥檚 interim figures for the six months to 30 June 2008 show the firm has made profits of 拢5.4m on revenues of 拢109m, a 39% leap in earnings.

The company鈥檚 profit in the first half of 2007 was 拢3.9m.

Revenue figures are up 13% on the 拢96.5m the firm made in the same period last year.

T Clarke listed eight major new tenders it had won, including Deutsche Bank鈥檚 new offices in London, the Ministry of Defence鈥檚 Tidworth Garrison scheme and Cambridge Regional College.

Pat Stanborough, T Clarke鈥檚 chief executive, said: 鈥淥ur plan to diversify the business away from a dependence on the commercial property development sector has gone well and we have a steady flow of work across all the regions we operate in.鈥

The firm鈥檚 order book now stands at 拢230m, compared to 拢205m this time last year. Stanborough said: 鈥淥ur forward order book is in excellent shape with a strong mix of work due for completion in the current year and beyond.鈥

He described the past six months as a period of significant progress and stated that, despite uncertainty in the financial markets, all core operations were performing well.

Clarke has two operating divisions. UK regions contributed 拢64m to turnover, achieving 拢2.8m pre-tax profit, while operations in its London division provided 拢45m turnover with 拢2.3m profit.